Dow explores sale of 35% stake in Sadara

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Dow explores sale of 35% stake in Sadara
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Dow is exploring a possible sale of its 35% stake in Sadara Chemical Co., the large joint venture with Saudi Aramco that has seen more than $20 billion invested and runs a Jubail complex producing over 3 million metric tons annually. The company faces a long chemicals downturn marked by weak demand and oversupply, and Sadara recently drew $80 million from a revolving credit facility guaranteed by Dow. No final decision has been made, but a sale could reshape ownership, let Aramco increase its stake or invite new investors, and reduce Dow’s ongoing capital obligations.

Dow is considering selling its 35% Sadara stake.

Context

The chemicals sector has been in a long downturn with weak demand and too much supply. Dow has faced ongoing capital calls and a recent $80 million credit draw tied to Sadara. The company may sell its 35% stake or Aramco may boost…

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